12,202 Shares in Gray Television, Inc. (NYSE:GTN) Acquired by SG Americas Securities LLC

SG Americas Securities LLC purchased a new stake in shares of Gray Television, Inc. (NYSE:GTN) in the 4th quarter, Holdings Channel reports. The fund purchased 12,202 shares of the company’s stock, valued at approximately $109,000.

Several other hedge funds have also added to or reduced their stakes in the business. Captrust Financial Advisors raised its position in shares of Gray Television by 219.5% in the second quarter. Captrust Financial Advisors now owns 1,556 shares of the company’s stock valued at $26,000 after purchasing an additional 1,069 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Gray Television in the 3rd quarter valued at about $41,000. Quarry LP raised its holdings in Gray Television by 460.6% in the 1st quarter. Quarry LP now owns 5,432 shares of the company’s stock valued at $47,000 after acquiring an additional 4,463 shares during the period. Comerica Bank bought a new position in Gray Television in the 3rd quarter valued at about $68,000. Finally, Mariner LLC acquired a new stake in Gray Television during the third quarter worth approximately $70,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Gray Television Price Performance

Shares of GTN stock opened at $5.92 on Friday. Gray Television, Inc. has a twelve month low of $5.44 and a twelve month high of $10.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.12. The business has a fifty day simple moving average of $6.28 and a 200 day simple moving average of $7.40. The company has a market cap of $575.42 million, a P/E ratio of -4.26, a P/E/G ratio of 0.15 and a beta of 1.57.

Gray Television (NYSE:GTN) last posted its earnings results on Friday, February 23rd. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). The company had revenue of $864.00 million during the quarter, compared to the consensus estimate of $863.31 million. Gray Television had a negative return on equity of 3.76% and a negative net margin of 2.32%. The firm’s revenue was down 19.4% compared to the same quarter last year. During the same period last year, the company posted $1.88 EPS. On average, sell-side analysts forecast that Gray Television, Inc. will post 3.78 EPS for the current fiscal year.

Gray Television Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.41%. Gray Television’s payout ratio is presently -23.02%.

Insider Transactions at Gray Television

In other news, CEO Hilton H. Howell, Jr. acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were bought at an average price of $8.09 per share, with a total value of $80,900.00. Following the acquisition, the chief executive officer now directly owns 2,982,386 shares in the company, valued at approximately $24,127,502.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on GTN shares. Wells Fargo & Company upped their target price on Gray Television from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Barrington Research reissued a “market perform” rating on shares of Gray Television in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $12.80.

Gray Television Profile

Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Circle, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.